Kenilworth Closes WagerPort Venture
02 March 2012 - 6:25AM
Marketwired
Kenilworth Systems Corp. (PINKSHEETS: KENS) today announced another
important milestone in its pursuit to monetize its patented,
live-action casino wagering technology: the formation of a
joint-venture company to complete development of online wagering
applications for casino clients.
Kenilworth's subsidiary, KenSysCo Gaming Inc., has entered into
a definitive agreement with South African company, Phortner (Pty)
Ltd., a leader in technology for secure processing of online
payments and ATM operations. The venture, called "WagerPort," will
make use of both KenSysCo and Phortner patents in the development
of its online wagering applications.
"The agreement with Phortner is a critical step for Kenilworth,"
noted CEO Dan Snyder. "Kenilworth's expertise is in the
high-definition video capture, streaming, and display of live
casino action. Phortner's patented technology provides for secure
money transfer and wagering audit data as required by a
well-regulated industry."
WagerPort Inc. will be co-located with KenSysCo Gaming in Las
Vegas drawing on management from both Phortner and Kenilworth, as
well as from the vast pool of experienced international gaming
professionals based in Nevada.
As to Kenilworth wagering technology, "What happens in Las Vegas
will definitely not stay in Las Vegas!"
Kenilworth Systems Corporation is an integrated technology
corporation with intellectual property assets and technical
capabilities in the live online gaming sector. The Company is based
in Uniondale, New York and has a subsidiary, KenSysCo Gaming, Inc.
in Las Vegas, Nevada.
FORWARD LOOKING STATEMENTS
The information contained in this Press Announcement includes
"forward-looking" statements within the meaning of section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and is subject to the
safe harbors created thereby. Such information involves important
risks and uncertainties that could significantly affect results in
the future and, accordingly, such results may differ from those
expressed in any forward looking statements herein. Future
operating results may be adversely affected as a result of a number
of factors.
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